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New internationalization strategies for revenue growth in Latin America and Spain

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Business Sweden has looked in to how Swedish companies can benefit from the commercial ties between Spain and Mexico and the rest of Latin America in order to grow sales towards the region. Findings show that Swedish companies could reduce time to the Latin American market, minimise risk and find new revenue streams by taking advantage of existing commercial ties. The opportunity is sizable but also dependant on sector, company situation and characteristics.

There are approximately 6 000 companies in Mexico with Spanish capital, a solid proof that Spain's strong footprint in the country. The historical heritage, cultural similarities and none-existing language barriers make the bridge between Spain and Latin America a natural step for expansion. In total, the Spanish export to Mexico has increased by 205% since the turn of the century amounting to €4 598 million in 2017, making Spain one of the main trading partners for Mexico and Latin America.   

Not only Spanish companies are taking advantage of the strong commercial ties between the country and Latin America. Many other international companies, such as British Telecom, Wincor Nixdorf and Huawei, have placed their Latin American headquarters in Spain and several Latin American companies, such as Pemex, Cemex and Votorantim, have done the same for their European operations. Swedish companies have also in some cases chosen to place their headquarters for Latin America in Spain or have in other ways managed to leverage on their presence in the country to grow their business in Latin America. Collaborations for projects in Latin America often commence in Spain, where in some cases all the decision-making is based. 

The above-mentioned shows that there is an opportunity for Swedish companies to follow the same path and take advantage of the well-established commercial ties between Spain and Latin America. Business Sweden believes that the opportunities for Swedish companies to grow through Spain towards Latin America are immense and include benefits such as shorter time to market, minimized risk and new revenue streams. The need for digital and disruptive solutions in the region is substantial. Swedish companies that can offer innovative technologies and solutions could therefore grow their sales towards the region in sectors where Spanish companies have a strong presence, for example within Fintech, energy, ICT and infrastructure.

If you are interested in learning more about coming events on this topic and how your company could grow your global sales towards Latin America and Spain, please leave your contact details below and we will contact you with more information. 

Business Sweden will arrange a free seminar on the subject in Stockholm the 5th of April. If you would be interested in participating, please contact spain@business-sweden.se.

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Christian Karlsson

Senior Project Manager Madrid Senior Project Manager, Madrid
+34 91 444 26 00
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Ernst Lundberg

Consultant México, D.F Consultant, México, D.F
+52 55 9126 3430